Great News! I've been celebrating this morning, but in case anyone feels anxious about the price drop, I'll share my reasoning; all longs deserve to be at least as happy as I am.
None of us should have been expecting a price increase on the BFS, because there shouldn't be any really new information in there, just new calculations. We are lucky to have so many board members here who have already done the math, so we knew what to expect. What we're waiting for is news that IMC is fully onboard with this project. And now with the BFS out of the way, there don't seem to be any further barriers. If there was any chance they could want to use the DD requirement as an exit plan, I'd still be worried. But IMC needs sangdong just as much as we need IMC. With the BFS out of the way with no surprises, it's full steam ahead. There is still political risk, but the election performance of the Saenuri party earlier this month really minimized any permiting risks or anything like that. So now, it really is a matter of sitting back and waiting for this to play out.
I understand that all of this is too scary for some people. To those people, I suggest selling your shares and moving into a less stimulating line of work. To everyone else, enjoy the fantastic start to the week!